Inherited money has its own unique challenges. Here are six tips for how to spend and save an inheritance:

This money is different. Recipients of an inheritance may treat an inheritance different from other money. A conflicted relationship with the deceased may cause the recipient to disown the money or waste it away.

Wait to spend. Estates can take a long time before they’re settled. Recipients should wait until the money is in hand before they go spending it.

Write a wish list. A wish list allows a recipient to prioritize the may options newfound wealth brings while also giving them time to consider the most meaningful uses.

Get insured. Besides car and house insurance, a personal liability policy is likely a necessity. Recipients should buy coverage for as much as they are worth.

Follow the 10% rule. Don’t spend more than 10% of an inheritance. Invest the rest.

Consider ongoing costs. Ferns require daily watering, while a cactus can go a month without. A new BMW might sound nice, but the insurance premiums, maintenance costs, and gasoline should also be considered. Think about a family vacation instead.